by OUR BUSINESS STAFF
The failure of company bosses to pay renewal fees on a dozen patents resulted in almost 40% of Avocet IP Ltd's intellectual property being lost while three of the seven brands acquired by Avocet's predecessor AFS Ventures suffered a similar fate.
Official UK records also show twelve other applications associated with Avocet IP were terminated before grant, seven were abandoned and one was withdrawn.
The potentially grievous losses of patents linked to fuel additives and livestock feed production were first revealed to investors in 2021 by way of written correspondence purporting to emanate from Tim Carter, of PCH Holdings. Later it was claimed Carter did not exist and was a figment of the imagination of Martin Frost, ex-chairman of the insolvent Avocet Group.
'Carter' claimed in his circulated missive that 90 per cent of the patents linked to the companies had been "lost" since 2019, "reducing the value of intellectual property from a possible figure of £400 million to just £69 million."
As we reported at the time, extracts of emails sent to Mr Frost by fellow Avocet director and Genfro Ltd life president Dr Bob Jennings warned: "Dear Martin, This is not good news. We have filed some 120 cases in various countries and the majority have lapsed.
"Some others are still live pending further checks, but will need completion fees to be paid by June 30th. All of the rest have lapsed, with little chance of reinstating. The June date is absolute and must be paid if we are to recoup some value."
According to 'Carter' PCH had arranged for a formal valuation of the remaining intellectual property list to ascertain the strength of Jennings' guesstimate of £69 million.
Shareholders were assured that PCH would pay the overdue fees on the relevant patents and this intellectual property would be transferred into the ownership of Genfro Limited. However, that did not happen as Genfro never owned any patents throughout that firm's existence.
A few weeks later, 'Carter' - in yet another message to Frost which was shared with investors - declared: "Dear Martin, It was good to clear the air with our frank though heated discussion. For the avoidance of doubt, PCH is not happy.
"PCH is not pleased with your ‘soft’ administration. PCH is appalled by Dr. Bob Jennings' business acumen which cost ANC Plc shareholders $60 million US dollars in June. PCH had spent months and much influence to secure a deal of the century, to see it go down the tubes in a matter of hours is unbelievable. PCH sees neither you nor Bob as irreplaceable. PCH has practical alternatives for both of you.”
An investor who lost a significant sum as a result of Avocet's failures said: "This was a classic case of mismanagement and neglect by management. The financial losses associated with their errors was never set out in detail...just some bland figures from the imaginary Carter.
"All of this should have been a subject for consideration at an annual meeting several years ago when investors would have had the chance to get rid of those in charge".
These are the UK patents/patent applications linked to Avocet IP Ltd., a subsidiary of liquidated Omega Infinite PLC:
AVOCET IP Ltd. [company dissolved via compulsory strike-off 21/5/2024]
1 – Conversion of carbon dioxide to hydrocarbons via hydrogenation. Filed 24/11/2012. Assigned to Avocet IP November 2018. Status: EXPIRED – FEE RELATED. Lapsed for failure to pay maintenance fee 28/8/2023.
2 – Process for the conversion of carbon dioxide to methanol. Filed 24/11/2012. Assigned to Avocet IP November 2018. Status: EXPIRED – FEE RELATED. Patent expired for non-payment of maintenance fee 21/10/2019.
3 – Integrated system and method for producing methanol product. Filed by Avocet IP 15/12/2016. STATUS: ABANDONED 28/5/2020.
4 – Agricultural system and method (hydroponics arrangement). Filed Avocet IP 4/12/2017. Status: ABANDONED 20/4/2020.
5 – Apparatus and method for continuous production of polyethylene glycol dinitrate. Filed Avocet IP 15/2/2016. EXPIRED – FEE RELATED - failure to pay renewal fee 7/11/2022.
6 – Enhanced fuel and method of producing enhanced fuel for operating internal combustion engine. Filed 16/8/2015. Assigned to Avocet IP 27/11/2018. Status: ABANDONED 27/3/2019 – failure to respond to an office action.
7 – Combustion system method. Filed Avocet IP 3/7/2015. Status: ABANDONED 3/2/2020 – failure to respond to an office action.
8 – Hydroponics apparatus and method. Filed Avocet IP 12/2/2016. Status: EXPIRED – FEE RELATED. Non-payment of renewal fee 24/8/2022.
9 – Combustion system and method. Filed Avocet IP 3/7/2014. Status: EXPIRED – FEE RELATED. Non-payment of renewal fee 25/3/2020.
10 – Livestock feed production apparatus and method. Filed Avocet IP 2/12/2016. Status: EXPIRED – FEE RELATED. Non-payment of renewal fee 24/8/2022.
11 – Method of growing seeds. Filed Avocet IP 2/12/2016. Status: EXPIRED – FEE RELATED. Non-payment of renewal fee 24/8/2022.
12 – Method and system of livestock feed production. Filed Avocet IP 8/12/2016. Status: EXPIRED – FEE RELATED. Non-payment of renewal fee 24/8/2022.
13 – Enhanced fuels, methods of producing enhanced fuels and additives for mitigating corrosion. Filed Avocet IP 15/2/2016. Status: ABANDONED 13/5/2019 – failure to respond to an office action.
14 – Fuel system and method. Filed Avocet IP 17/8/2014. Status: EXPIRED – FEE RELATED. Non-payment of renewal fee 29/4/2020.
15 – Combustion engine and method. Filed Avocet IP 17/8/2014. Status: EXPIRED – FEE RELATED. Non-payment of renewal fee 26/2/2020.
16 – Apparatus and method for producing methanol. Filed Avocet IP 27/11/2017. Status: WITHDRAWN 18/11/2020.
17 – Apparatus and method for producing methanol. Filed Avocet IP 27/11/2017 Status: ABANDONED. Incomplete application. Discontinuation 4/4/2022.
18 – Apparatus and method for continuous production of polyethylene glycol dinitrate. Filed Avocet IP 1/2/2019. Status: ABANDONED – failure to respond to an office action. Discontinuation 2/12/2019.
19 – Method of enhancing omega-3 oil content in livestock. Filed Avocet IP 2/12/2016. Status: EXPIRED – FEE RELATED. Non-payment of renewal fee 24/8/2022.
20 – Livestock feed production system and method. Filed Avocet IP 8/12/2016. Status: EXPIRED – FEE RELATED. Non-payment of renewal fee 24/8/2022.
21 – System and method for producing nitrate esters. Filed Avocet IP 12/12/2019. Status: CEASED. Application terminated before publication 7/7/2021.
22 – Apparatus and method for producing plant growth material using hydroponics apparatus. Filed Avocet IP 19/12/2019. Status: CEASED. Application terminated before publication 14/7/2021.
23 – Apparatus and method for producing plant growth material using hydroponics apparatus. Filed Avocet IP 13/7/2018. Status: CEASED. Application terminated before publication 8/1/2020.
24 – Fuel for internal combustion engines and additive for fuel thereof. Filed Avocet IP 29/4/2019. Status: CEASED. Application terminated before publication 28/10/2020.
25 – System and method for producing glycol dinitrate. Filed Avocet IP 12/7/2019. Status: CEASED. Application terminated before publication 10/2/2021.
26 – Apparatus and method for producing polyethylene glycol. Filed Avocet IP 12/7/2019. Status: CEASED. Application terminated before publication 10/2/2021.
27 – Method and apparatus for production of livestock feed. Filed Avocet IP 12/3/2019. Status: CEASED. Application terminated before publication 7/10/2020.
28 – Fuel for internal combustion engines and additive for fuel thereof. Filed Avocet IP 16/1/2018. Status: CEASED. Application terminated before publication 22/5/2019.
29 – Method and apparatus for production of livestock feed. Filed Avocet Infinite 4/12/2017. Status: CEASED. Application terminated before publication 3/4/2019.
30 – System and method for producing nitrate esters. Filed Avocet Infinite 3/7/2018. Status: CEASED. Application terminated before publication 1/1/2020.
31 – System and method for producing glycol dinitrate. Filed Avocet Infinite 3.5.2018. Status: CEASED. Application terminated before publication 7/8/2019.
32 – Apparatus and method for producing polyethylene glycol. Filed Avocet Infinite 3/5/2018. Status: CEASED. Application terminated before publication 7/8/2019.
AFS VENTURES LTD
On August 19th, 2024 ‘Rebecca’ - like 'Carter', something of a mystery - wrote in an email to a select group of investors: “In 2014 AFS Ventures was valued by KPMG at £50 million. In 2015 AFS Ventures morphed into Avocet Infinite PLC. In 2019 Avocet Infinite was valued by the market at £230+million."
But reports prepared by AFS Ventures liquidator Eric Walls include an entry of £680,000 for an ‘Intellectual Property Settlement’. Frost, while a director of AFS Ventures valued the company’s IP at £4 million in a signed Statement of Affairs.
AFS VENTURES PATENTS
1 – Combustion engine and method. Filed AFS 17/8/2014. Change of ownership to Avocet Fuel Solutions Inc. (US) 1/4/2015. Status: EXPIRED – FEE RELATED. Non-payment of renewal fee 26/2/2020.
2 – Fuel systems and method. Filed AFS 3/7/2014. Change of ownership to Avocet Fuel Solutions Inc 1/4/2015. Status: EXPIRED – FEE RELATED. Non-payment of renewal fee 29/4/2020.
3 – Combustion system and method. Filed AFS 3/7/2014. Change of ownership to Avocet Fuel Solutions Inc 1/4/2015. Status: EXPIRED – FEE RELATED. Non-payment of renewal fee 25/3/2020.
4 – Enhanced fuel methods for producing advanced fuels and additives for advanced fuels. Filed AFS 3/7/2014. Change of ownership to Avocet Fuel Solutions Inc 1/4/2015. Status: WITHDRAWN 1/5/2019.
5 – Enhanced fuels, methods of producing enhanced fuels and additives for enhanced fuels. Filed AFS 3/7/2014. Change of ownership to Avocet Fuel Solutions Inc 1/4/2015. Status: CEASED. Application terminated before publication 11/11/2015.
6 – Compound, method of manufacturing compound, enhanced fuels, methods of producing enhanced fuels and additives for advanced fuels. Filed AFS 3/7/2014. Change of ownership to Avocet Fuel Solutions Inc 1/4/2015. Status: CEASED. Application terminated before publication 11/11/2015.
7 – Method and apparatus for producing methanol. Filed AFS 14/4/2014. Change of ownership to Avocet Fuel Solutions Inc 1/4/2015. Status: CEASED. Application terminated before publication 26/8/2015.
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